By Atoyebi Nike
Nigeria has introduced a new industry body to strengthen its fast-growing carbon market, as the Minister of Environment, Balarabe Abbas Lawal, on Tuesday unveiled the Carbon Market Association of Nigeria (CMAN) at the Nigeria Pavilion during COP30 in Brazil.
The launch follows the recent approval of the Nigeria Carbon Market Framework, a national policy designed to regulate and expand a transparent and credible market capable of attracting global investors and positioning the country as a leading producer of high-quality carbon credits in Africa.
Speaking at the unveiling, the minister said CMAN would help organize the sector, build capacity, and create an enabling environment for a sustainable and well-regulated carbon market.
He noted that the Association represents “a major milestone” in Nigeria’s climate and economic transition, adding that it will play a central role in guiding best practices, supporting project developers, and ensuring the country produces “high-quality, high-integrity credits” with direct social and economic benefits.
Interim President of CMAN, Horsfall Tony, presented the Association’s vision and mission during the ceremony. He said the body aims to be a credible umbrella organization for all carbon market stakeholders, promoting Nigeria as a continental hub for high-integrity credits that support climate finance, net-zero goals, and a just energy transition.
Tony added that CMAN’s mission is to unify the country’s carbon market actors and influence collective climate policies that drive sustainable development.
According to him, the unveiling at COP30 underscores Nigeria’s growing influence in global climate negotiations and highlights the government’s commitment to using carbon markets to expand climate finance, advance nature-based solutions, accelerate clean energy deployment, and reduce poverty.
CMAN is expected to boost Nigeria’s presence in international market reforms while supporting high-quality projects across forestry, renewable energy, clean cooking, blue carbon, and other emerging climate-relevant sectors.
